3 years ago
Sporting Club - receipt of Grants
Apologies for what is probably a very simple question, this is new to me.
Our local sporting club has received a couple of Goverment Grants.
I have allocated that money to a 'Grant' Income account in our MYOB.
Do I need to create a 'Grant' Expense account to allocate the expenditure of that money or can I just allocate it as I usually would (ie. in the 'Equipment' Expense account).
Many thanks in advance.